Polkadot (DOT) Price Long-term Trend: Bearish
Polkadot’s (DOT) price continues to fall to its $1.60 low after breaking below the moving average lines. The altcoin previously halted above the $1.67 support level before rising. The bullish momentum was rebuffed twice at the $2.20 high, leading to the cryptocurrency’s drop. On the downside, the cryptocurrency price has broken below the current support level of $1.67, leading the altcoin to fall even more.
The DOT price has dropped to a low of $1.63 after losing its present support. Furthermore, the bearish momentum may revisit the $0.25 price level of October 10. However, the bearish momentum may come to an end if buyers push the price back above the $1.67 support level.
Key Resistance Levels: $10, $12, $14
Key Support Levels: $5, $3, $1
Polkadot Indicator Analysis
The moving average lines slope southward to the bottom of the chart. The 21-day SMA has crossed the 50-day SMA support, signaling a current fall. The price movement has been defined by Doji candlesticks, causing the altcoin to progressively drop. On the 4-hour chart, the 21-day SMA is sloping downward and below the 50-day SMA.
General Outlook for Polkadot (DOT)
Polkadot price resumes its decline to its $1.60 low price. On the 4-hour chart, the cryptocurrency price has halted above the $1.60 support level but below the moving average lines. The cryptocurrency price is consolidating above the $1.60 support level, while the trend is being determined. Meanwhile, the crypto signal is negative, with the altcoin trading in the bearish trend zone.
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